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South Dakota tax question
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KingdomOfSalvation is
in
South Dakota
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I inherited an estate and live in a state that supposedly doesnt have an estate tax nor inheritance tax, so when i report that on my 2020 taxes, i dont have to pay taxes on it? I looked for the federal rules on it and it seems their threshold of how much it has to be before they tax it is 11.4 million now? Mine wasnt into the 8 figures, so i dont have to pay federal tax either? Or am i sorely misunderstanding this?
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- 3 years ago
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